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Pinecrest Resources has a gold project (Enchi) in Ghana, West Africa. The resource size is 1.5 million oz at .65 gpt, and will likely grow in size. It is a large property (140,000 acres) with a lot of drilling targets. They completed a PEA in 2015 for a... more

05/23/2019

Analysis

Updated: Lundin Gold Inc

Lundin Gold obtained the Fruta Del Norte from Kinross for $240 million. Fruta is a huge high-grade open pit (9 million oz at 8 gpt). Kinross paid $1.2 billion for it from Aurelian Resources. Kinross did a pre-feasibility study to produce 400,000 oz for... more

05/23/2019

Analysis

Updated: Galileo Exploration

Galileo Exploration is a project generator focused in Nevada. They had two projects but had to sell one of them due to financial difficulties: the Majuba Hills, a past producing high-grade copper mine.
All they have now is the Signal gold project... more

05/22/2019

Analysis

Updated: Industrias Penoles NPV

Industria Penoles owns 75% of Fresnillo, which is one of the largest silver and gold producers in the world. They claim most of that production in their financials (Fresnillo is listed as a subsidiary), so I'm a bit confused. Fresnillo has a separate... more

05/21/2019

Analysis

Updated: Erris Resources

Erris Resources is a project generator focused in Europe. They have JV deal with Centerra on 3 properties in Sweden (75,000 acres). Centerra is currently drilling and can earn 70%. Klippen is a potential discovery with a 6-mile strike.
They also have... more

05/20/2019

Analysis

Updated: Intl. Prospect Ventures

Intl. Prospect Ventures is a project generator focused in Western Australia. They have 8 properties in the Pilbara on 220,000 acres. All of them are early exploration. Their properties are spread out over 5 areas. They are all named after hockey teams (Ha more

05/19/2019

Analysis

Updated: Eastmain Resources Inc

Eastmain Resources is advancing a large high-grade gold project in Canada. Investors don't seem to believe they can take it to production. They have an FD market cap of only $21 million, yet their project is in a great location to produce 80,000 oz for... more

05/19/2019

Analysis

Updated: Anglo Asian Mining Plc

Anglo Asian Mining is a gold producer in Azerbaijan. Production is projected at about 70,000 oz in 2019, with all-in costs around $800 per oz (free cash flow). Their Gedabek has both an open pit and underground mine. Resources are about 1 million oz.... more

05/19/2019

Analysis

Updated: RNC Minerals

RNC Minerals (previously Royal Nickel) is a small gold, copper, nickel producer in Australia and Canada. They have low resources for their $147 million FD market cap. They will produce about 40,000 oz of gold in 2019 (Beta Hunt), but it will require... more

05/19/2019

Analysis

Updated: Canadian Orebodies Inc.

Canadian Orebodies is a project generator focused in Canada (Ontario). They have three early exploration projects in Ontario, Canada on 70,000 acres. It's a new company, and they made their first discovery (Black Raven) in 2017 after drilling 22 holes (18 more

05/19/2019

Analysis

Updated: Cygnus Gold

Cygnus Gold is a project generator focused in Western Australia. They are a new company that has acquired a lot of properties at very little cost. They have over 1 million acres on about 12 properties, but no debt or option obligations. They already have... more

05/18/2019

Analysis

Updated: Evolution Mining Ltd

Evolution Mining is a large gold producer in Australia. They have seven producing mines and will produce about 700,000 oz in 2019. They have low cash costs (about $600 per oz) and are very profitable. They have $225 million in debt, but plenty of cash... more

05/18/2019

Analysis

Updated: Kootenay Silver Inc

Kootenay Silver (previously Kootenay Gold) is a project generator focused in Mexico. After their acquisition of International Northair (April 2016), they have 14 properties and 4 JV deals. Their flagship project is Promontorio, which is a 115 million oz... more

05/18/2019

Analysis

Updated: Robex Resources Inc.

Robex Resources is a small gold producer in West Africa. They have an excellent property called Nampala (1.5 million oz at .7 gpt and growing). The problem is the location (Mali), which limits the upside potential. All of Robex projects are in the south,... more

05/18/2019

Analysis

Updated: St. Augustine Gold & Copper Ltd

St. Augustine Gold & Copper has a very large project in the Philippines (King-king). It is primarily a copper project with gold offsets. The stock price has crashed to 1.5 cents because of political events in the Philippines. The President has been anti-m more

05/18/2019

Analysis

Updated: Minaurum Gold Inc

Minaurum Gold is a project generator with 5 projects in Mexico. They have an experienced team and a very good Board of Directors. They recently made a high-grade silver discovery on their Alamos property (90,000 acres), which has numerous drill targets.... more

05/18/2019

Analysis

Updated: Royal Road Minerals Ltd.

Royal Road Minerals is a project generator focused in Colombia and Nicaragua. They don't have any discoveries yet. However, they have a pretty good management team that comes from Lydian International. They have had several discoveries in the past,... more

05/18/2019

Analysis

Updated: Orecorp Ltd

Orecorp Ltd. has an excellent gold project in Tanzania. The Nyanzaga deposit is a 3 million high-grade surface and underground mine. Acacia Mining has a 60-day option to retain 75% after the feasibility is completed. Otherwise, they will get 51%. The... more

05/18/2019

Analysis

Updated: Blackrock Gold

Black Rock Gold is a project generator. They have a gold project (Silver Cloud) in Nevada on 10,000 acres. The property was drilled by Teck and Placer between 1999 and 2002 which discovered three interesting holes (145 g/t Au over 1.5 meters, 5.67 g/t Au... more

05/16/2019

Analysis

Updated: Awale Resources

Awale Resources is a new company formed in 2016. They are a project generator exploring for gold in West Africa (Cote D'Ivorie). They have 3 properties on 425,000 acres and they have application to expand that to about 1 million acres. They did their... more

05/15/2019

Analysis

Updated: Brixton Metals Corp

Brixton Metals is a project generator focused in Canada. They have three early exploration silver projects. The Thorn project (60,000 acres) in northern British Columbia is mostly a silver project, but it also has significant gold, copper, lead, and zinc... more

05/14/2019

Analysis

Updated: Nordic Gold

Nordic Gold (previously Firesteel Resources) is a near-term gold producer in Finland. Their Laiva gold mine (10,000 acres) was built by a previous owner for $250 million. They bought it for $20 million in forward gold sales (67,000 oz over 5 years) and... more

05/13/2019

Analysis

Updated: Black Mammoth Metals

Black Mammoth Metals is a project generator. They have one early exploration project (after releasing their Coppertonic project in 2018). The Blanco Creek in Idaho has three past producing underground gold mines. It is a potential small gold mine... more

05/13/2019

Analysis

Updated: Castle Minerals Ltd

Castle Minerals is a project generator focused on gold. They have a large property (1 million acres) in Ghana called the WA project. It has 200,000 oz and is a potential mine. It is early exploration and in 2018 they considered selling it in order to... more

05/12/2019

Analysis

Updated: Minera IRL Ltd

Minera IRL is trying to become mid-tier producer in Peru. It has extreme risk, because they have $82 million in debt and only $2 million in cash. Plus, they need $175 million for the capex of their flagship project (Ollachea in Peru). They had been... more

05/11/2019

Analysis

Updated: Jaguar Mining Inc

Jaguar Mining is an emerging mid-tier producer in Brazil with 2 operating mines. Recently they went bankrupt from high costs and high debt. They have now restructured the debt and re-listed their shares. Original shareholders got wiped out and the bond... more

05/11/2019

Analysis

Updated: California Gold Mining Inc

California Gold Mining is a project generator. They have two properties that both are potential mines. The Fremont Project in California is close to being advanced, with an 880,000 oz (1.6 gpt) surface deposit, plus significant underground exploration... more

05/11/2019

Analysis

Updated: Mexus Gold US

Mexus Gold was a small producer in Mexico. Recently they parted ways with their JV partner at Santa Elena and are going to try and restart and operate the mine on their own. Their goal is to ramp up production from 500 tpd to 1,000 tpd in the near term.... more

05/11/2019

Analysis

Updated: Theta Gold Mines Ltd

Theta Gold Mines (previously Stonewall Resources) is trying to become a gold producer in South Africa. They recently announced a 5 million oz high-grade resource and investors ignored them. They have an FD market cap of $30 million. Their problem is the... more

05/09/2019

Analysis

Updated: Aruma Resources Ltd

Aruma Resources is a gold exploration company focused in Western Australia. They are exploring 4 projects. In Slate Dam (60,000 acres) they completed phase 2 drilling in 2018 which resulted in small sized gold veins. Another project is Beowulf (125,000... more

05/09/2019

Analysis

Updated: Minotaur Exploration

Minotaur Exploration is a project generator focused in Australia. They call themselves a copper explorer, although they have some gold properties. They have been around since 2005, but currently do not have a company presentation on their website (other... more

05/09/2019

Analysis

Updated: Southern Hemisphere Mining

Southern Hemisphere Mining is a project generator. They have a copper/gold JV in Chile with Hudbay Minerals (a major copper producer), who recently extended its option and is currently drilling. It is very low-grade gold and really a copper project, but... more

05/08/2019

Analysis

Updated: Wishbone Gold Plc

Wishbone Gold has an early exploration gold project in Australia. However, they seem to be focusing on working with artisan miners in Honduras and Thailand. It is an odd strategy where they provide equipment in exchange for a lower than spot price for... more

05/08/2019

Analysis

Updated: Arrow Minerals Ltd

Arrow Minerals (formerly Segue Resources) is a project generator focused in Western Australia. They have two early exploration gold projects. Barlee is 350,000 acres with 14 drill targets and Strickland shows signs of mineralization, but still far from... more

05/08/2019

Analysis

Added: Amex Exploration Inc

Amex Exploration is a project generator focused in Canada. They have a potential high-grade discovery (Perron) in Quebec on 11,000 acres. Most of the drill holes have been narrow, but some are very good (5 meters at 24 gpt, 7 meters at 32 gpt, 10 meters... more

Egan Street Resources is advancing a small high-grade gold project in Australia. The recently released a feasibility study to mine about 50,000 oz per year for 7 years. That's a short mine life, so the risk is they cannot extend the mine life. It's... more

05/06/2019

Analysis

Added: Dark Horse Resources Ltd

Dark Horse Resources is a project generator focused in Argentina. They have two early exploration gold projects (Las Openas and Cachi). It does not look like they have started drilling either. It appears they are focusing on two lithium projects in... more

05/05/2019

Analysis

Updated: Broadway Gold Mining Ltd

Broadway Mining has a potential gold discovery (Madison) in Montana on 2500 acres. The share price exploded in value from 2 cents in 2015 to $1.28 in 2017. However, it has since come all the way back to 8 cents. The market cap has crashed down to $6... more

05/05/2019

Analysis

Updated: Goliath Resources

Goliath Resources is a project generator focused in Canada. They have 3 early exploration gold projects in British Columbia. Two of them are in the golden triangle and are possible high-grade discoveries. Bingo (2,500 acres) and Golddigger (37,000 acres)... more

05/05/2019

Analysis

Added: Spectrum Metals Ltd

Spectrum Metals is a project explorer focused in Australia. They are currently drilling Penny West, which was a small high-grade open pit. It is early exploration, but the grade has been very high (8 meters at 23 gpt). The key is going to be how much... more

05/05/2019

Analysis

Added: Tietto Minerals Ltd

Tietto Minerals is advancing a gold project (Abujar) in West Africa (Cote D'Ivoire). It's a 1.7 million oz (1.4 gpt) resource. They plan to release a pre-feasibility study in 2019, although they are low on cash and it might slip. It seems like their... more

05/05/2019

Analysis

Added: Northern Shield Resources Inc

Northern Shield Resources is a project generator focused in Canada. They have several early exploration projects in Nova Scotia and Quebec. Very little drilling has been formed. They are excited about a potential discovery called Shot Rock based on... more

05/04/2019

Analysis

Updated: Amarillo Gold Corp

Amarillo Gold has an excellent project in Brazil. The Mara Rosa project (1.3 million oz at 1.6 gpt) is economic (40% after-tax IRR at $1300 gold) with cash costs of only $550 per oz. They need to complete the final feasibility study, which is scheduled... more

05/04/2019

Analysis

Updated: Goldmining Inc

Goldmining Inc. (previously Brazil Resources) stated strategy is to acquire advanced stage projects. They have done an incredible job achieving that strategy (although it has not translated into shareholder value yet). In 2012, they acquired the... more

05/04/2019

Analysis

Updated: Continental Gold Inc

Continental Gold has excellent properties in Columbia. Their flagship Buritica project is high grade (8 gpt) and is a 11 million oz resource, with more drilling planned. This was a $10 stock in 2011 and today it is $2.00. They have $80 million in cash (al more

05/04/2019

Analysis

Updated: Gowest Gold Ltd

Gowest Gold is advancing to production in Canada. They only have one project (North Timmins), but it is large (27,000 acres) and has 15 targets. The Bradshaw deposit is a 1.2 million oz (5 gpt) resource that looks good. It is a high-grade surface and... more

05/04/2019

Analysis

Updated: Silver One Resources Inc

Silver One Resources is a new company formed in 2016. In 2017, they acquired the Candalaria project in Nevada from Silver Standard for $4 million in shares, plus a 3% NSR. This project has a historical resource of 40 million oz in M&I at 3.5 opt and 90... more

05/04/2019

Analysis

Updated: Broadway Gold Mining Ltd

Broadway Mining has a potential gold discovery (Madison) in Montana on 2500 acres. The share price exploded in value from 2 cents in 2015 to $1.28 in 2017. However, it has since come all the way back to 11 cents. The market cap has crashed down to $6... more

05/04/2019

Analysis

Added: Peel Mining Ltd

Peel Mining a project generator focused in Australia. They are mostly a base metals exploration company. However, I added them to the database because their Wagga/Southern Nights property has a significant amount of silver and gold. This is a high-grade... more

05/03/2019

Analysis

Updated: ML Gold Corp

ML Gold is an exploration company focused in Canada and Nevada. They focus their efforts on their Stars property, in which they drilled multiple holes with 200-300 meters of visual Chalcopyrite and copper that took the stock up 160% based on its... more

05/02/2019

Analysis

Updated: Newmont Goldcorp

Newmont Goldcorp is a solid major, although growth will be flat at around 7 million oz for the next 5 years. They have about 150 million oz of gold resources and a large pipeline (15 projects in development). Their problem is that they are so big ($25... more

05/02/2019

Analysis

Updated: Margaux Resources Ltd

Margaux Resources has five early exploration projects in British Columbia. Cassiar (60,000 hectares) is a Gold project with a historical Inferred Resource of 1.04 million ounces of gold (32.4 million tonnes at an average grade of 1.0 g/t gold using a cut- more

05/01/2019

Analysis

Updated: Goldplat Plc

Goldplat PLC is a small producer in Kenya, plus they do gold recovery in South Africa and Ghana. The recovery is mostly done on old milling equipment, but they also do some toll milling from tailings and artisan mining. This business gives them cash flow... more